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Proactive news snapshot: Solo Oil, Aminex, ReNeuron Group, ECR Minerals ...

A glance at some of the day's highlights from the Proactive Investors newswire
Your daily round-up from the world of Proactive

Solo Oil PLC  (LON:SOLO) shares have received a boost after Aminex plc (LON:AEX) announced a farm-out agreement for the Ruvuma production sharing agreement. “This development provides a clear commercial and technical validation of the Ntorya project, which we hope will now move quickly towards production,” said Solo executive chairman Neil Ritson.

Aminex plc (LON:AEX) shares soared in mid-afternoon trading Wednesday after it signed a binding farm-out agreement with Omani industrial conglomerate The Zubair Corporation. The Africa-focused oil and gas producer said that in exchange for 50% of its working interest in the Ruvuma production sharing agreement (PSA), Zubair would conduct a minimum work programme including the drilling, completion, and testing of the Chikumbi-1 well; acquiring, processing and interpreting 3D seismic data over a minimum of 200 square kilometres within the Ntorya project area

ReNeuron Group Plc (LON:RENE) has inked a deal worth up to US$5mln ahead of potentially licensing out its ground-breaking its hRPC retinal stem cell technology and therapeutic programmes. It has signed an exclusivity agreement with an unnamed US-based speciality pharmaceutical company, which it hopes will lead to a definitive accord later this year.

Eurasia Mining plc (LON:EUA) has announced that the Ministry of Natural Resources (MNR) has approved its application for a mining permit at Monchetundra Mine in Russia. The AIM-listed PGM (Platinum Group Metals) and gold mining company said the mine permit application has now been delivered to the office of Prime Minister Dmitry Medvedev for final authorisation.

Ariana Resources plc (LON:AAU) produced record amounts of gold from its Kiziltepe mine in Turkey in the three months to June as its ramp-up continued. Kiziltepe, a joint venture with Turkish firm Procea, produced 7,171 ounces (4,866 oz), a 47% increase quarter-on-quarter.Aminex plc (LON:AEX) shares jumped 33% to 2.9p after telling investors its subsidiary, Ndovu Resources Limited, has signed a binding farm-out agreement with The Zubair Corporation. Zubair plans to assign its interest in the farm-out to ARA Petroleum Tanzania Ltd, which will be an affiliate of Eclipse Investments LLC- Aminex’s largest shareholder.

An Israeli pharma group which has licensed Silence Therapeutics PLC (LON:SLN) chemical modification technology has dosed the first patient in a phase III trial of its acute kidney injury treatment. Quark Pharmaceuticals also announced it has reached an agreement with the US Food and Drug Administration on the overall study design with a new primary endpoint.

Frontier IP Group Plc (LON:FIPP) said its portfolio company, Pulsiv Solar, has won a grant from Innovate UK, the government’s innovation agency, to develop its solar power technology.

Internet of Things (IoT) specialist Telit Communications Plc (LON:TCM) said gross profit margins have stabilised in 2018 following the declines seen last year.

Initial results from a seabed survey of the Newgrange Prospect, offshore Ireland, "support the potential presence of a working petroleum system", according to Dr John O'Sullivan, technical director of Providence Resources PLC (LON:PVR).

Sound Energy PLC (LON:SOU) has appointed chief financial officer JJ Traynor to its board of directors with immediate effect. “I am delighted to welcome JJ to the board of Sound Energy,” said chairman Richard Liddell.

Bushveld Minerals Ltd’s (LON:BMN) partnership with South African electricity utility Eskom has received its first vanadium battery. US firm UniEnergy Technologies built the unit, which will run on a mixed-acid vanadium electrolyte.

Arc Minerals Limited (LON:ARCM) said it has commenced drilling at the Zamsort Copper Cobalt project in Zambia, while also upping its stake in the project by 5%.

European Metals Holdings (LON:EMH) has reported that it has completed roast optimisation testwork and that improved recoveries have resulted in modelled lithium carbonate production from the Cinovec Lithium-Tin Project increasing to 22,500 tpa.

Kiran Morzaria, CEO of Cadence Minerals Plc (LON:KNDC) (OTC:KNDCY), which owns approximately 20% of the equity in European Metals Holding, commented: "The strategic importance of the Cinovec Lithium project as a future supply hub for the European EV industry cannot be overstated."

Sunrise Resources Plc (LON:SRES) shares jumped in afternoon trading as the company announced an update for the Junction copper-silver-gold-project area in Nevada, USA. VR Resources Ltd revealed that its ongoing surface exploration this spring has strengthened the targets within the high-grade copper-silver-gold vein system at the Junction Project, in which Sunrise holds an interest.

NQ Minerals PLC (NEX:NQMI) (OTCQB:NQMLF) has announced that its subsidiary Hellyer Gold Mines PTy Ltd has entered into two marketing and off-take agreements, combined with US$10mln secured prepayment facility agreement with Traxys Europe S.A

Stobart Group PLC (LON:STOB) has announced that Philip Day missed a deadline to be elected a director of the company having failed to provide it with a confirmation of willingness seven days ahead of the requisitioned extraordinary general meeting due to be held on 18 July. Accordingly, Southend airport owner Stobart said, the sole resolution proposed at the EGM to elect Day a director is now ineffective and therefore “shareholders need take no further action irrespective of whether they have already submitted a proxy vote”.

SIMEC Atlantis Energy Ltd (LON:SAE) said that the operators of its flagship tidal power project MeyGen in the Pentland Forth plans to retrieve two of the Andritz Hammerfest Hydro (AHH) turbines during July for inspection and maintenance. It said if the diagnosis of a generator fault is correct repairs are expected to be completed within two months, with both generators under warranty.

Highlands Natural Resources Plc (LON:HNR) announced that, further to the announcement made on 25 June 2018, the grant of leases covering over 46,000 acres of land prospective for commercial volumes of carbon dioxide (CO2) in north-eastern Arizona has been approved by the State of Arizona.

Tlou Energy PLC (LON:TLOU) announced that its non-renounceable entitlement offer to raise up to approximately A$5.5mln (around £3.2mln) has closed, with total applications received of approximately A$3.7mln (about £2.2mln). The group said all the remaining entitlement shares have been placed by the company's brokers to raise the shortfall balance of approximately A$1.8mln (about £1.0mln).

BB Healthcare Trust PLC (LON:BBH) has announced the appointment of JP Morgan Cazenove as its joint corporate broker, alongside Peel Hunt, with immediate effect.

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